Soft Magnetic Composites Market to Cross US$ 9.8 Bn by 2031, TMR Report – PR Newswire

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May 12, 2022, 09:30 ET
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ALBANY, N.Y., May 12, 2022 /PRNewswire/ — Analysts at TMR project the soft magnetic composites market to expand at a CAGR of 7.2% between 2021 and 2031. The increasing demand for high performance industrial motors in economically valuable end-use industries such as automotive and manufacturing is driving the soft magnetic composites market.
The consistent rise in demand for soft magnetic composites in the manufacture of mechanical and electromagnetic equipment for industrial and commercial use such as traction motors, pumps, air conditioning compressors, high output industrial motors, and DC/DC converters, among others, fuels the growth of the soft magnetic composites market.
The Asia Pacific soft magnetic composites market is expected to expand at a CAGR of more than 7.6% over the forecast period from 2021 to 2031. Significant demand for soft magnetic composites for various applications such as high performance industrial motors that are intrinsic to industrial units fuels the growth of the soft magnetic composites market in the region.
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Soft Magnetic Composites Market – Key Findings of Report
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Soft Magnetic Composites Market – Growth Drivers
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Soft Magnetic Composites Market – Key Players
Some of the prominent players in the soft magnetic composites market are;
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The soft magnetic composites market is segmented as follows;
Soft Magnetic Composites Market, by Material
Soft Magnetic Composites Market, by Application
Soft Magnetic Composites Market, by End-use
Soft Magnetic Composites Market, by Region
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About Transparency Market Research
Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyse information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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SOURCE Transparency Market Research
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